I've begun keeping receipts on upgrades, fees, etc... to be prepared for tax time. 

My advice is to form a relationship with a landlord attorney in your state, and in particular, one that is very familiar with property management, to prepare your lease specific to not only your state laws but also how you want to do business.

This entails deciding who gets access to information and when, as well as setting investigational goals.

i know this is kind of an old thread, but just wanted to add a few things here: 1. yes you will have to go through permitting process. you will also register this as a SFH with the county.2. you will need to contact DMV to deregister this as a mobile home. 3. you will have to make sure you remove the Axel and the wheels  under the home and make preparations to fix the property to the foundation you already have. currently dealing with similar situation in GA, hence researched a bit to find out the process. 

Obviously if the difference between a standard LTR and a STR/MidTerm is that different, I would highly consider it, but I'd have to study up on all the extra variables of what an STR entails.

And prepare for family friction from now on. :)

@Ashley DennisYou may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a tax strategist willing to work with you throughout the year, not just when preparing your tax return.You want an accountant who can help you strategize and who is responsive when you want to know the tax consequences of the financial decisions you are making throughout the year.Good luck.

If you're looking to purchase in these types of neighborhoods be prepared to act quickly and competitively.

It is basically preparing yourself for success and putting yourself on that path.

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